First time land buyer questions

[Reec0306]

Hi all,

Forgive me for any obvious questions I'm about to ask 2 months ago property was the last thing on my mind so I am lacking experience and knowledge on anything property related.

I am considering placing an offer on a block of land with my partner with the aim of building new in 6 months time to take advantage of the fhb grant.

Firstly the block is sloping and is currently unserviced however power, ph and sewer are available from neighbouring blocks. The land has been subdivided this particular one been the last the other 2 having had houses built already.

I've spoken to the rea about conditions on the contract ie. soil testing, building quotes etc. but im not filled with confidence as to how solid these conditions are and i really don't want to be stuck with a block of land that I can't afford to finance the money required to build.
So to the questions.
Firstly Who should I be talking to about this?

Is it possible a house cannot be built here for whatever reason and where would I find that information?

Should I be speaking to a solicitor before I make an offer?

Where is there greatest potential for budget blowouts?

I'm estimating about 20k for earthworks to get the block cleared and at a state I could start building a modest house plus another 10 for getting the services to the house. How long is piece of string I know but any idea as to what these kinds of things have cost you even for a flat simple block will help me. Thanks in advance.

Reece

 

[superAndrew]

Have you spoken to a builder yet?

Andrew

 

[Reec0306]

Hi Andrew, have spoken to a couple of builders over the phone and have access to some through work. None have baulked or indicated any great difficulty in building.

The land is quite overgrown making it hard to get a clear idea as to what I'm working with. Hoping to use this a bargaining tool and also a deterrent to other buyers. I feel there is some potential in this block with some hard work and imagination to build a nice home for now and an IP for the future.

My main concerns would be on the council/land stability side of things and how to best protect myself from any hidden suprises.

 

[onion33]

I built on a sloping block. Don't underestimate the cost of retaining walls (if money is tight, then definitely factor this into your costs). That said, totally worth it for the view of a sloping block!

 

[Macca]

To minimise costs I would ask a friendly builder to have a look over it for a slab of beer Experience is invaluable !

You could check with the local council if it has building entitlement and then you would need to know if it is a pile of old fill that has no bottom. I would then check with utility suppliers if service is available and ask what needs to be done to connect.

Perhaps talk to the neighbours and see if they had any unexpected costs when building.